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Flare Networks
Flare/Spark Summary
FTSO & Delegation
FTSO overview and Delegation Services
Billy is a long time XRP HODL'r, he registered for spark & Billy wants to be a Flare Network participant!
Be Billy!
(From the official Flare White Paper)
FLare Network
The world's first Turing complete FBA network
Scalable and doesn’t base safety on a native token.
No risk of safety degradation from competing uses of native token.
Integrates Ethereum Virtual Machine.
Deep pool of developer talent and easier integration of existing projects.
Low transaction costs.
Applications can scale without users incurring burdensome costs.
The Flare Network is a distributed network whereby nodes run the Avalanche consensus protocol [Roc18] with a key
adaptation to a Federated Byzantine Agreement (FBA) consensus topology [CC19]. The Flare Network leverages the
Ethereum Virtual Machine (EVM), enabling the network to run Turing complete smart contracts. The combined usage
of the FBA consensus topology with a Turing complete smart contract layer makes Flare a scalable public smart contract
network that does not require a native token for safety.
White papers
-THE FLARE NETWORK AND SPARK TOKEN
-FXRP
-FLARE CONSENSUS PROTOCOL FCP
(From the official Flare Networks White Paper)
Spark token
Flares native token on the Flare Network. Token lable = FLR
Collateral for the trustless issuance of assets from non-Turing complete chains.
Starting primarily with XRP and including LTC
Contributes to the Flare time series oracle & network governance.
Spark ownership secures, improves and guides the network.
Created by a utility fork of XRP.
Directly increasing utility of XRP and XRPL. No ICO. No competing interests.
Spark
Flare’s native token, the Spark, is required for spam control at the network level. Because the safety of the network is
not contingent on the token itself, Spark can be used in ways which would be unsafe for other networks
First, Spark
can be used as collateral within applications.
Second, Spark as a contributor, but not the sole contributor, to an oracle
providing on-chain time series data estimates, called the Flare Time Series Oracle (FTSO)
Third, Spark as a governance
methodology across all elements that rely on it. These three components form the building blocks of a collection of
applications that can be built using Spark, termed Spark Dependent Applications (SDA’s). Furthermore, as the network
doesn’t require staking or computation returns for safety, the FTSO becomes the inflation function for Spark itself.
SDA
The Spark Dependant Application model
provides a blueprint for building applications on the Flare Network. This relies on the three components mentioned above:
Spark used as collateral
Spark used to contribute to the Flare Time Series Oracle providing on-chain
data estimates
Spark used as a participation token in governance schemes
*** Comprehensive official Flare blogs on how to claim your Spark.
A visual guide to claiming Spark (FLR), NOVEMBER 28, 2020. 1 Min Read
Claiming Spark FAQ’s (flare.xyz) 5 Min Read
(From the official Flare blog)
FTSO
The Flare Network whitepaper introduced the Spark token (FLR) and the Flare Time Series Oracle (FTSO) as the decentralised on-chain mechanism providing time series estimates to the network
Crucially, it transfers value from people who do not participate in the system or who participate in a malicious fashion, to people who provide utility to the network.
Contributes to the Flare time series oracle & network governance.
Spark ownership secures, improves and guides the network.
DELEGATION CORRESPONDS TO AN ADDRESS ON FLARE ASSIGNING ITS OWN SPARK (FLR) TOKEN VOTES (OR F-ASSET VOTES) AND ANY VOTES ALREADY ASSIGNED TO IT, TO ANOTHER ADDRESS ON FLARE.
Overview
The FTSO provides externally sourced data estimates to the Flare Network in a decentralised manner. It does so by leveraging the distributed nature of the network and its participants. For example, the FXRP system requires the FLR/XRP price. A centralised system would for instance take this price from an exchange, updating the price at regular time intervals. But, a decentralised system relying on a centralised data feed would essentially render it centralised itself. The FTSO provides a decentralised solution to this problem.
Why Vote?
Because if the provided estimate is close enough to the oracle output, then a reward is earned. This allows participants to actively gain FLR, and incentivises them to not only provide data estimates, but to provide good estimates!
delegation services/signal providers
Many who hold Spark may not be able to directly participate in the FTSO by providing data. The system allows for the delegation of your spark votes to Signal Providers/Delegation Services, in return for a share in the profits. Delegation involves no risk to your Spark tokens. See the Website list to find some examples of Delegation Services (useful further reading on their sites)
*** Open the official Flare blog, FTSO: a breakdown, dated7 Min Read: Highly recommended!
YouTube dedicated channels
YouTube channels from both Flare Network related projects and XRP Community members
Highly recommend a Subscribe to each one!
1
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22
"A Catalyst for Change at the SEC" Gary Gensler nomination hearing w/Senate Committee XRP & Flare
"Crushing FUD about Flare Networks with Facts" A detailed breakdown of concerns from the community!
Central Banks testing CBDC's on Private XRP Ledger. What does it mean for XRP?
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Flare Finance – Arbitrage Tool – FTSO.EU
Flare Finance Beta – Staking Tips
BREAKING NEWS! / New F-Asset / $XLM
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11
Flare Finance – Introductory Explainer Video
Flare Finance – Official New Years Teaser
1
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8
Flare Finance Beta test – preparation tutorial
Decentralized exchange on XRP Ledger – tutorial
How to maximize earnings from Flare Finance
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Community Podcast (Ep6) – Interviewing 2 Top 10 Samurais; Arbs, Swapping, and Bonus Content!
An Introduction to Liquidity Pool Tokens – Version 2 0
An Introduction to the FlareFinance Discord (Resource Management)
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YouTube videos
Selection of must see videos from various content creators, some early videos may need updating as the Flare project has progresses, so here for reference
Highly recommend a Subscribe to each one!
Previous
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THE FLARE NETWORK: THE NEXT GENERATION OF SMART CONTRACTS
Free Membership signup is required to view this top rated interview Featuring Hugo Philion and Santiago Velez
A selection of Twitter accounts to Follow to keep up to date with in regards the Flare Network and related projects
Highly recommend a Follow to each one!
Websites
A collection of web site links for Flare Network, XRP Community help and related projects
Highly recommend adding to your Fav Bar!
Flare Oracle Signal Provider and Delegation Services
Choose the perfect plan
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Frequently asked questions
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